A message about claims trends, changing markets and your resources

Since 1980, when TDIC was founded to protect dentists during a malpractice insurance crisis, we’ve closely monitored claims trends, emerging risks and market factors. How we prepare for and manage the level, type and severity of claims impacts our company’s ongoing health. And how we work together as a community of dentists to mitigate risk exposures also directly impacts individual policyholders’ insurance experiences and rates.

By understanding the trends in malpractice and property claims, dentists can take steps to safeguard against additional costs and pressure.

Like most insurance carriers, our sustained strength relies on the ability to evaluate risk patterns and ensure that our financial reserves are sufficient to comfortably cover losses. What sets us apart is making decisions with dentists’ interests at heart. Simply put, we monitor claims closely so that we’re well positioned to protect you when you need us.

Across more than 24,000 policyholders, we paid 876 professional liability claims and 489 property claims last year alone, along with rising claims costs for cyber liability and other policies.

Over the past five years, staying ahead of claims data has become more complicated.

• Malpractice claims numbers ebbed during the pandemic as treatments were interrupted or postponed but have resumed and are on the rise.
• With more advanced treatments, and high verdicts in specific types of cases, claim costs rise, too.
• While the highest number of claims are for crowns, endo, extractions, implants and restorative procedures, there is a high financial impact for a much smaller number of other types of claims. Sedation, anesthetic reaction, nerve injury, and cancer screening or referral claims – reflecting potentially life-and-death issues – can sometimes reach millions of dollars.
• On the commercial property side, of course, wildfires and natural disasters have increased in number and severity. But we’re seeing new types of claims, too – like fires set by unhoused people who are trying to keep warm and vehicles crashing into buildings.
• Inflation has changed the calculation of what “adequate coverage” looks like today. It’s outpaced inflation guards, with rising construction costs, labor shortages and the high expense of replacing more advanced equipment.

This can all sound really daunting. Know that you have insurance experts in your corner who specialize in helping dentists prepare for, prevent and respond to risks.

Here are four ways you can make a difference:

1. Detailed documentation. It’s hard to defend dentists’ decisions if they’re not documented. Protect yourself with orderly, chronological and specific records on clinical decision-making, treatment performed and patient responses. Records that are incomplete, inappropriate or inadequate — especially when it comes to clinical findings, informed consent or clinical rationale — undermine your side of a malpractice case.
2. Preventative measures. Even with fire, water and theft leading property claims, there are some factors under your control. Shut off water lines when not in use. Maintain electrical systems and safety plans. Monitor financial processes and take cybersecurity measures.
3. Sufficient coverage. Your policies should keep pace with your changing practice and real-world costs. Adequate malpractice coverage factors in higher risk specialties and procedures. Property coverage factors in inflation and the expense of replacing equipment. Your insurance advisor can help you calibrate the type and amount of coverage you need, uncover gaps, and find ways to save on your premiums.
4. Expert guidance. TDIC’s risk management analysts provide advice by phone and email, keeping many practice challenges from escalating into claims. They’ve developed sample letters, guides and informed consent forms to make that detailed documentation easier. You can also take C.E.-eligible seminars to skill up on trending topics like using AI and proactive property measures.

Leverage the many experts and resources available to support policyholders. Together, we can protect the collective claims experience for our community of dentists.